The cap rate on the properties is above 7%, says Ken Szady,executive director of Cushman & Wakefield's capital marketsgroup. Szady is handling the portfolio, along with Jim Carpenter,senior director.

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The River Grove properties are at 8999 W. Palmer St., a550,000-sf building, and at 1810 5th Ave, a 100,000-sf building.Both are occupied by single tenants, which deal in low-price,high-volume merchandise and sell to stores like Wal-Mart and theDollar Store. The Palmer Street property has been occupied by itscurrent tenant for more than a decade, Szady says.

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The Mount Pleasant property is a 550,000-sf facility at 7100Durand Ave. The largest of two tenants occupying this industrialfacility is Liquid Container.

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Tenant leases in all three of the buildings extend past 2012,Szady says. Lease rates in all three buildings fall around $3.50per foot, net, he says. "You have above average lease terms on allof the buildings and they're 100% leased," Szady says. "It's drivenby the location. It's tough to get good buildings in these kinds oflocations."

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The properties are in the O'Hare and Southeast Wisconsinsubmarkets. "They're in good locations with strong occupancyhistorically," Szady says.

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Szady says CenterPoint will consider all offers for theproperties, whether made for individual buildings or the entireportfolio. He says he's already received signed confidentialityagreements from several interested parties. "Even though there'sturmoil in the marketplace, the certainty of the stable cash flowcreates good interest," Szady tells GlobeSt.com. "We've seenpositive, above-average response, but the question is who will havethe cash and equity to close the deal. The question in today'smarket is who can get to the finish line first."

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